Breaking News Bar
updated: 3/21/2013 4:31 PM

Work begins on massive Arlington Downs project

hello
Success - Article sent! close
  • Arlington Heights Mayor Arlene Mulder and David Trandel, partner in the project, sixth and seventh from left, participate in the groundbreaking Wednesday for a $250 million apartment, retail and commercial project known as Arlington Downs on Euclid Avenue just west of Arlington Park.

       Arlington Heights Mayor Arlene Mulder and David Trandel, partner in the project, sixth and seventh from left, participate in the groundbreaking Wednesday for a $250 million apartment, retail and commercial project known as Arlington Downs on Euclid Avenue just west of Arlington Park.
    George LeClaire | Staff Photographer

  • Richard Cavenaugh, president of Stoneleigh Companies, speaks during the groundbreaking in Arlington Heights for a $250 million apartment, retail and commercial project known as Arlington Downs.

       Richard Cavenaugh, president of Stoneleigh Companies, speaks during the groundbreaking in Arlington Heights for a $250 million apartment, retail and commercial project known as Arlington Downs.
    George LeClaire | Staff Photographer

  • Arlington Heights Mayor Arlene Mulder jokes about using a groundbreaking shovel given to her by David Trandel, owner of the project, for gardening when she retires in April.

      Arlington Heights Mayor Arlene Mulder jokes about using a groundbreaking shovel given to her by David Trandel, owner of the project, for gardening when she retires in April.

  • The pool area of the former Sheraton Hotel and CoCo Key Water Resort looks close to the same inside as when it closed. The developer plans to enlarge the resort and combine it with a smaller hotel than the one that used to grace the site.

       The pool area of the former Sheraton Hotel and CoCo Key Water Resort looks close to the same inside as when it closed. The developer plans to enlarge the resort and combine it with a smaller hotel than the one that used to grace the site.
    George LeClaire | Staff Photographer

  • Arlington Heights broke ground on a $250 million apartment, retail and commercial project known as Arlington Downs on the site of the former Sheraton Hotel and CoCo Key Water Resort just west of Arlington Park.

       Arlington Heights broke ground on a $250 million apartment, retail and commercial project known as Arlington Downs on the site of the former Sheraton Hotel and CoCo Key Water Resort just west of Arlington Park.
    George LeClaire | Staff Photographer

  • David Trandel, a project partner, speaks during the groundbreaking in Arlington Heights for a $250 million apartment, retail and commercial project known as Arlington Downs.

       David Trandel, a project partner, speaks during the groundbreaking in Arlington Heights for a $250 million apartment, retail and commercial project known as Arlington Downs.
    George LeClaire | Staff Photographer

  • This is an artist's drawing of the $250 million apartment, retail and commercial project known as Arlington Downs.

      This is an artist's drawing of the $250 million apartment, retail and commercial project known as Arlington Downs.

 
 

Even though the temperatures may not have felt very springlike Wednesday, Arlington Heights officials celebrated the start of a new season with a groundbreaking for Arlington Downs, the long-planned $250 million redevelopment project that finally got under way.

Village President Arlene Mulder joined trustees, developers and other supporters of the massive residential and commercial project for a quick ceremony in the cold weather before continuing to celebrate at Arlington Park, just down the street from the site on Euclid Ave.

Order Reprint Print Article
 
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.
Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Success - request sent close

The Argent Group, which is a developer for the 25-acre former Sheraton hotel site near Arlington Park, has been doing site work for several months, but will start construction next week on the first of two luxury rental apartment towers, said partner David Trandel.

"It's been a terrific journey. It's been challenging, but we've been blessed with terrific partners," Trandel said. "This has really been a remarkable process and people still can't believe it got done."

Residents could be moving into the 214 luxury apartments by the end of 2013 or early 2014, he said.

The apartments will be developed by Barrington-based Stoneleigh Cos. and will have amenities similar to those in a downtown Chicago high-rise, Trandel said, including a health club, restaurant and rooftop deck. This will be the first Chicago-area development for Stoneleigh, which was founded in 2008 and has more than 3,000 apartments in Florida, Tennessee, Texas and Arizona.

"This has been a long road, but we're so glad to have the opportunity to get this going and start turning dirt next week," said Rick Cavenaugh, president of Stoneleigh.

Later parts of the project include expanding the former CoCo Key water park -- adding 10,000 square feet -- and reopening with a smaller hotel for families. Four Points by Sheraton also has been brought on to reopen a small, limited-service hotel on the property by the fall of 2014. Retail stores and restaurants will also be located on the site.

The Arlington Heights village board last June gave the final major approval to the project at Euclid Avenue and Rohlwing Road.

It was a major blow to the village when the large hotel closed late in 2009 after years of financial struggles. The village lost about $507,000 in annual revenue.

But village staff estimates the new development, when complete, could produce $1 million annually in sales-type taxes for the village and another $4.2 million annually in property tax revenue for various governments.

The project is on schedule to be completed in four years, Trandel said.

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.
    help here